Schwab Charles Investment Management Inc. lifted its holdings in shares of Blackbaud, Inc. (NASDAQ:BLKB) by 5.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 215,252 shares of the technology company’s stock after acquiring an additional 10,517 shares during the quarter. Schwab Charles Investment Management Inc. owned 0.45% of Blackbaud worth $18,900,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also made changes to their positions in the company. ETF Managers Group LLC purchased a new stake in shares of Blackbaud during the second quarter worth about $125,000. Northwestern Mutual Wealth Management Co. grew its stake in Blackbaud by 2.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,537 shares of the technology company’s stock worth $132,000 after purchasing an additional 39 shares in the last quarter. QS Investors LLC grew its stake in Blackbaud by 157.1% in the second quarter. QS Investors LLC now owns 1,800 shares of the technology company’s stock worth $154,000 after purchasing an additional 1,100 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Blackbaud by 9.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,896 shares of the technology company’s stock worth $163,000 after purchasing an additional 163 shares in the last quarter. Finally, Investment Centers of America Inc. acquired a new position in Blackbaud in the second quarter worth about $203,000.
A number of equities analysts recently commented on BLKB shares. Citigroup started coverage on Blackbaud in a research note on Friday, September 22nd. They issued a “buy” rating and a $100.00 price target for the company. Robert W. Baird set a $85.00 price target on Blackbaud and gave the stock a “hold” rating in a research note on Sunday, October 1st. Zacks Investment Research upgraded Blackbaud from a “sell” rating to a “hold” rating in a research note on Tuesday, October 3rd. B. Riley set a $82.00 price target on Blackbaud and gave the stock a “hold” rating in a research note on Thursday, October 19th. Finally, Dougherty & Co started coverage on Blackbaud in a research note on Tuesday, October 31st. They issued a “neutral” rating for the company. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Blackbaud currently has an average rating of “Hold” and an average price target of $94.75.
Blackbaud (NASDAQ:BLKB) last issued its earnings results on Wednesday, October 25th. The technology company reported $0.56 EPS for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.05. Blackbaud had a return on equity of 31.25% and a net margin of 6.82%. The company had revenue of $195.51 million during the quarter, compared to the consensus estimate of $196.35 million. During the same period in the previous year, the firm posted $0.45 earnings per share. Blackbaud’s quarterly revenue was up 6.8% compared to the same quarter last year. analysts anticipate that Blackbaud, Inc. will post 1.57 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Tuesday, November 28th were paid a $0.12 dividend. The ex-dividend date was Monday, November 27th. This represents a $0.48 dividend on an annualized basis and a yield of 0.50%. Blackbaud’s payout ratio is currently 43.64%.
In other Blackbaud news, EVP Brian Boruff sold 800 shares of Blackbaud stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $103.95, for a total value of $83,160.00. Following the completion of the transaction, the executive vice president now directly owns 50,862 shares in the company, valued at $5,287,104.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Anthony W. Boor sold 1,989 shares of Blackbaud stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $98.26, for a total value of $195,439.14. Following the sale, the chief financial officer now directly owns 105,342 shares in the company, valued at approximately $10,350,904.92. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,655 shares of company stock valued at $972,923. 2.19% of the stock is currently owned by insiders.
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Blackbaud, Inc is a cloud software company. The Company offers a range of cloud and on-premise solutions, as well as a resource network that empowers and connects organizations of all sizes. Its segments include the General Markets Business Unit (the GMBU), the Enterprise Customer Business Unit (the ECBU) and the International Business Unit (the IBU).
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